I think this is what the debate boils down to; people who think lotteries are stupid are taking the term EV way too literally. Expected value is not the same as realized value. People play lotteries because, for a couple bucks a week, they get a legit shot at winning a shitload of cash. Everyone knows that you are supposed to lose. However, some people win. And you just hope that you get to be one of those people.
Ill throw in an example from my life. My mom had a couple miscarriages before having me. When I was born, I was extremely premature. 1 pound, 10 ounces; born nearly 3 months premature (6 months approx). Remember that this was back in '89, so today the survival rate is probably much higher. Anyways the doctors told my mom, based upon their knowledge and her history; to her face "your child will probably die". Exact words. After a successful birth, there was concern about my physical and mental development. I was incubated for 3.5 months. My mom held me for a few minutes before I was put into the incubator.
^^ lost train of thought. damn. didnt want to delete my story because it took time to write.
but yeah. for the lottery, a very marginal amount of money for the chance to strike it rich; theres no wonder why so many people play.



Reply With Quote